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Logistics (MENA) 
HSBC’s revenue inches up in Q1 2024 + CEO Noel Quinn resigns
CEO Noel Quinn is stepping down from his post after nearly five years
Kastour teams up with China’s Foton to assemble electric buses. PLUS: Ashry Steel, Radwan, Mylerz, SODIC, RMBV
The buses will go to both public and privately-owned public transportation providers and the two companies
CIRA Education’s topline climbed 35% in 1H 2023-24
Revenues rose 35% thanks to higher enrollment rates, especially in universities.
Mashreq’s net income after tax rose by 25% in 1Q2024
Driving the growth were low risk-costs, strong client margins, and a global high-interest rate environment.
Post for Investment sees revenue and income jump over 30% y-o-y in 2023. PLUS: National Bank of Egypt subsidiary to set up country’s third gold fund
Post for Investment saw its net income climb 32.4% y-o-y to EGP 664 mn in 2023
Macro Group turns to losses in 2023
The losses were driven by a dip in revenues and higher finance cost
Alexbank’s net income rises 76% y-o-y to EGP 5 bn in 2023. PLUS: Next fiscal year’s draft budget goes up for discussion in the House next week
The government is currently working to offload its 20% stake in Alexbank
Ezz Steel turns to losses in 2023 despite revenue growth
Revenues rose on the back of record exports as the company moved away from domestic sales
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